Tesla Motors Inc. Earnings: Quarterly Loss Widens
Tesla Motors Inc. ‘s (NASDAQ:TSLA) loss widened in the fourth quarter, as the company’s results were dragged down by higher costs. Tesla Motors designs, develops, manufactures and sells high-performance fully electric vehicles and advanced electric vehicle powertrain components.
Investing Insights: Will the iPad 3 Be the Next Catalyst for Apple’s Stock?
Tesla Motors Earnings Cheat Sheet for the Fourth Quarter
Results: Loss widened to $81.5 million (78 cents per diluted share) from $51.4 million (loss of 54 cents per share) in the same quarter a year earlier.
Revenue: Rose 8.5% to $39.4 million from the year earlier quarter.
Actual vs. Wall St. Expectations: Tesla Motors Inc. reported an adjusted net loss of 69 cents per share. By that measure, the company fell in line with the mean analyst estimate of a loss of 69 cents per share. It beat the average revenue estimate of $38.5 million.
The company fell in line with estimates last quarter after beating forecasts in the previous quarter with a loss of 63 cents versus a mean estimate of a loss of 66 cents per share.
Looking Forward: Analysts are increasingly optimistic about the company’s performance next quarter. Over the past thirty days, the average estimate for the first quarter of the next fiscal year has gone up from a loss of 68 cents per share to loss of 67 cents. Over the past month, the average estimate for the fiscal year has fallen from a loss of $2.42 per share to a loss of $2.43.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
Don’t Miss These Additional Hot Stories:
To contact the reporter on this story: Derek Hoffman at email@example.com
To contact the editor responsible for this story: Damien Hoffman at firstname.lastname@example.org